The predominant purpose for most people conducting patent searches is to see if someone else already has a patent on an invention. They overlook other possible fortunes that exist in the information in previous patents.

 

Inventors by nature are normally very creative people. Most previously filed patents are a wealth of information. Being creative not only when thinking of an invention, but also when deciding how to use information found in previously issued patents could be very beneficial to the pocket book. I will present you with some creative ideas on how to use this information that you may not have thought of before. I will not exhaust all of the possibilities of using this information.  Looking at patent documents in a different light might spark your on creativity and you may come up with new ways that have never been thought of before. Here are some ways that I have found.

 

You might be the kind of person who is a true do-it yourself kind of person and plan on writing and filing for your patent yourself.  However, after looking at what is required on the application, you might decide you need some help in this area. How do you find someone to help you?  Why not look at patent agents or patent attorneys other inventors have used?  Want to find out how good and reasonable a patent agent or attorney is? How about talking to the inventor listed on the patent document?  If the inventor's contact information is not listed on the patent document, there are several good people search tools such as www.whitepages.com that can be utilized. Sometimes the inventor listed on the document works as an employee of a company and was not responsible for hiring the attorney or agent handling the patent. In this case, it might not be appropriate to contact the inventor for this information. I discuss this in more detail below.

 

From previous patents you can also compile a list of assignees that may be interested in licensing your invention. The assignee listed on the patent document is a person or company who was not the inventor, but was issued ownership or part owner of the patent. Most patents that list assignees are ones where the inventor, or inventors work for a company in the company’s research and development department.  As part of the employment contract, the company has ownership rights to any invention created by the employee. Patent documents that may involve this type of arrangement are sometimes easy to spot. Some possible signs are when several inventors are listed on the patent and when the invention is highly technical. Unfortunately, sometimes it is hard to determine. If it's not obvious, you just have to call and ask. Even if the assignee is a company that has a research and development department, it doesn't mean that they would not be interested in licensing your invention. Since they have already shown that they are in business with products similar to yours, they may also be interested in adding your invention to their product line. If the assignee is an individual, it's hard to determine why there was an assignment. You'll never really know until you call and ask. Make a list of assignees you find on patent documents when you are doing a patent search and at the right time, don’t be afraid to contact them. If you do not have a patent prior to revealing any information about your invention make sure to protect yourself by having a non-disclosure or similar type of protection agreement signed.

 

You might think of other inventors as competition, but as a valuable source of information, it would be hard to find a better source than an inventor of a product similar to what you have invented. In this case I am referring to inventors that work for themselves, and not as an employee of a company.  Some people might be afraid to contact another inventor of a produce similar to their own in fear of rejection. It might be well worth the risk of getting the phone hung up on you to get the advice that someone who has already gone through the experience may be willing to share. Most people are friendly and are willing to talk about their experiences with you. Of course, there are always going to be people who may not want to talk to you, but I’ll say it again, you never know until you ask! Let me warn you however, that you will come across people who failed at being successful with their invention who will try to discourage you. Just listen to them, because they may disclose information to you that you really need to consider, but don’t let them steal your dream just because they failed. The reason they failed might not apply to you and it might help you discover a different way to make the idea successful. You might even be able to capitalize off their failure. See number 4 below to see what I mean.

 

  If you find that someone else has already received a patent for an invention like yours, don't give up just yet. You still may be able to own the patent on the invention. Here is why. A lot of people think when they receive a patent 90% of the work is done. They think all that is left
is to find a company to license the invention to, fill the form with the address for their checks are to be sent and that's it. They are rich! At least that was their plan when they first got started. They never intended on starting, financing, and running a business around their invention. The idea all along was instant riches with little risk or ongoing work. When this does not happen and they are faced having build a business themselves they get discouraged and give up. You would be surprised as to how many inventions end up collecting dust in garages because of this one reason. Read Jack Lander's "Collect Money With Your Invention..Not Dust" to decrease the chances of this happening to you. Some of these inventors will sell their
patents for little money. Sometimes they would be happy just to get back some of their expenses. Others might want to retain a small interested. I mean very small. Of course, there might be others who won't let go of their invention, even if they never make a dime off of it.

 

Here is something that's helpful to understand before talking to another inventor about the rights to their invention:

 

Maintenance fees are required to be paid in order to keep the patent protection from expiring on utility patents issued on or after December 12, 1980. These fees are around $465 and up. They are due no later than the end of years 4, 8 and 12 from the date the patent was issued. In
order for the patent protection to remain in force, these fees must be paid. If the maintenance fees are not paid when due, the patent protection will lapse. Now there is a 2 year grace period, after the due date, in which the maintenance fee can be paid, along with other re-instatement fees, and the patent protection will be reinstated. So, if something very similar to your invention has already been patented but you have not seen it on the market, it won't hurt to contact the inventor to see what is going on. Be honest with them and let them know that you are not a big company but that you might be interested in buying the patent to their invention. Find out where they are with it and what it would take for them to assign the patent to you. You might save yourself a lot of time by going this route. Be sure you hire an attorney to check into all the details as to the status of the patent and to prepare any required documentation for you. I never attended law school and I am not giving you any legal or professional advice. :)

 

As I stated earlier, these are just a few possible ways  you can utilize information from patent documents. Don’t be limited to just the ways that are presented here. Be creative. Find the gold that everyone else is overlooking!

 

Good luck with your invention!